Abstract
This case is about challenges faced by the depositors and the entire banking system following the collapse of the Punjab and Maharashtra Cooperative Bank. The Deposit Insurance and Credit Guarantee Corporation insured the bank deposits, and the earlier deposit insurance coverage was $74 million, which was increased to $370 million in the Union Budget of 2020. This increase was attributed to the collapse of the Punjab and Maharashtra Cooperative Bank, where 0.3 million people lost their money.
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